Representation of a Mortgage Loan Originator in a Financing Arrangement with a Global Investment Bank

Representation of a Mortgage Loan Originator in a Financing Arrangement with a Global Investment Bank

Locke Lord’s Evan Drutman (New York) and Chris Floyd (Boston) represented a residential Mortgage Loan Originator, as borrower, in a financing facility with a Global Investment Bank, as lender. The financing was structured as a mortgage repurchase agreement (or Mortgage Repo), which represented a new and important source of liquidity for the Firm’s client that will enable its further loan originations. It also constituted an important relationship for the investment bank for strategic reasons. Among other virtues, the liquidity from the repo facility will enable the Firm’s client to increase its origination capacity across multiple sectors. The transaction is valued at $500M.Posted February 16, 2018

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